<
https://theconversation.com/australian-ceos-are-still-getting-their-bonuses-performance-doesnt-seem-to-matter-so-much-259382>
"Almost all of Australia’s top chief executives are, according to their boards
at least, knocking it out of the park in terms of performance.
That is despite sluggish productivity, persistently high carbon emissions,
rising inequality and Australia’s public spending on research and development
being among the lowest in the OECD.
According to new data from the Australian Council of Superannuation Investors,
91% of Australia’s top chief executive officers (CEOs) received some form of
performance bonus last year. That elevated their pay well above their base
salaries (which were already over A$1 million). Only five CEOs out of 142
eligible for a bonus received zero.
The fact nearly all of Australia’s top CEOs are receiving these performance
bonuses shows performance pay is more about rewarding conformity and discipline
than risk-taking and entrepreneurship.
Do we really believe 91% of our CEOs made big bets that paid off last year? A
more plausible explanation is that we simply reward executives for not stuffing
up. Their customer base is growing in line with population growth and their
prices are rising faster than their cost of production, which means profits
rise without too much effort."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
